The news comes less than two weeks after reports surfaced that Spears was going to be fired because the show's producers felt she didn't meet the expectations that came along with her $15 million contract. Sources say the producers already have a successor in mind, and the news is expected to be announced within the next 10 days.

Spears' exit was first reported by TMZ.com, who noted that the 31-year-old singer reportedly decided she'd rather focus on her own music career despite her love for The X Factor. Fox had no comment on the report.

The report also comes one day after Fox's Kevin Reilly said he and Simon Cowell have yet to discuss the next season, but from the network's point of view, Brit-Brit was a success. "I thought it went very, very well," Reilly said. "It was fraught with unknowns, and I think Britney did a very good job. People are fascinated with her and always will be. Last year the ratings were a little bit higher, but I think it was a better show this year. I think she tucked in really nicely on the bench."

Spears is the latest in a long line of judges who have left the X Factor. Creator, executive producer and judge Cowell handed out pink slips after the first season to judges Paula Abdul and Nicole Scherzinger, as well as host Steve Jones.

Reid announced the week before the Dec. 20 finale that he would be leaving the show after two seasons to focus on his day job as CEO and Chairman of Epic Records. This would leave just Cowell and Demi Lovato as the remaining judges on The X Factor.

Will you miss Spears as a judge on The X Factor? Or are you ready to see more new faces doling out critiques? Hit the comments!